Sevan Marine gets $83 million credit facility led by Investec Bank

By Sara Rosenberg

New York, Oct. 6 - Sevan Marine ASA closed on an $83 million credit facility, according to a news release.

Investec Bank plc arranged the new deal through a club style syndication.

Security is the assignment of certain future contracted cash flows.

Proceeds will be used to prepay a $48 million senior secured callable convertible bond and for general corporate purposes.

Sevan Marine ASA is a Norway-based owner, operator and licenser of FPSOs and drilling units.

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